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Thu May 3, 2012
Auto parts maker to buy plant in Saline, Michigan, employ 500 people
A French auto parts maker says it plans to buy a parts plant in Saline, Michigan. Faurecia SA says the interior components plant will be part of a joint venture.
From the Associated Press:
Faurecia and Rush Group announced Thursday that they're creating Detroit Manufacturing Systems, a joint venture to build and automotive interior components in Detroit.
The companies say the venture expects to employ about 500 people in Detroit within the next three years and will make parts at first for Ford Motor Co.
Here's more from a Faurencia SA press release:
Faurecia will acquire the Saline business, which generates $1.1 billion annual sales supplying cockpit modules, instrument panels, door panels and center consoles for 12 vehicle programs assembled at eight Ford plants throughout North America. With this acquisition, Faurecia’s objective is to create a new operation that is optimized for efficient production, in line with the Faurecia Excellence System.
In conjunction with the Saline acquisition, Faurecia will enter into a new joint venture with Rush Group Ltd., one of the Rush Group of companies that together comprise one of the largest Native American and woman-owned businesses in North America. The joint venture, called Detroit Manufacturing Systems (DMS), will do injection molding, assembly and sequencing of interior trim components from a new facility in Detroit. Rush Group will hold the majority of the capital and the management of DMS, while Faurecia – with 45% of the capital – will bring its technology and manufacturing expertise to the joint-venture. As a result, the Saline plant will focus in the future on core technologies such as injection molding, skin manufacturing and foaming operations with annual revenues of nearly $400 million.